In the last 2 hours, bitcoin and ether, the native Ethereum cryptocurrency, experienced a 5% increase in value supported by a sudden spike in volume.

In just a few hours, the volume of bitcoin jumped by more than $ 1 billion, while the volume of ether increased by almost 20%.

Volume is Coming Back
Earlier today, CCN reported that the next 24 hours would be crucial to the crypto market and will define the trend of major digital assets including bitcoin and ether throughout this week.

"The volume of bitcoin has recovered to $ 4.6 billion and the volume of Ether has risen to $ 1.5 trillion, from $ 3 trillion and $ 1 trillion respectively. crypto market.The next 24 hours will be likely to dictate the trend of bitcoin throughout the week, "a CCN report read.

In the last few hours, the volume of bitcoin and ether has increased by $ 1.5 billion, while the volume of Tether has reached $ 4.2 billion. Higher Tether Volume (USDT) and BTC / ETH movement means that investors are reallocating their USDT-valued assets, which are hedged to the US dollar, to digital assets.

Already, as a result of the short-term rebound in bitcoin, chips including Aelf (ELF), ICON (ICX), Zilliqa (ZIL), WanChain (WAN) and 0x (ZRX) have increased by around 6%. 21%. percent, with ZRX recording a 21.5% gain against bitcoin and a 27% gain against the US dollar.

The increase in the price of bitcoin from $ 6,300 to $ 6,600 in the last two hours is more important than a mere 5% increase for the digital asset; this could lead to the price of bitcoin breaking the $ 7,000 mark throughout the week with significant momentum and volume.

Funds are still bullish
Ryan Rabaglia, an Octagon Strategy partner, said that despite major fixes, the cryptocurrency market has always managed to break out of bearish cycles with one hundred percent gains and large rallies. He said the market will see its numbers before the end of 2018 and the funds are still optimistic and optimistic about the medium-term growth of the industry.

"Over a year, the cryptocurrency market is up more than one hundred percent, the markets are still in a growth phase and it's still a nascent industry.The regulatory position of the industry is a source The uncertainty surrounding this regulation is what puts pressure on this market and pushes this market down, "said Rabaglia, noting that the establishment of a regulation will lead the market to a rise long-term.
The cryptocurrency community has been extremely optimistic about the corrective gathering of bitcoin and ether in the last two hours. While analysts could minimize the corrective rally given that the value was only a 6% hike, the rally was a symbolic move with a large volume spike that could dictate the trend of the cryptocurrency market in July.